What's Going On With Bitcoin Mining Stocks Marathon Digital And CleanSpark Thursday?
Portfolio Pulse from Adam Eckert
Bitcoin mining stocks Marathon Digital (MARA) and CleanSpark (CLSK) are experiencing volatility ahead of their earnings reports. Riot Platforms (RIOT) missed analyst estimates, impacting the sector. Marathon Digital is expected to report revenue of $157.84 million and a loss of 14 cents per share, while CleanSpark is expected to report revenue of $110.881 million and a loss of 4 cents per share. CleanSpark also announced new power contracts and a Bitcoin mining site acquisition.
August 01, 2024 | 3:49 pm
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NEGATIVE IMPACT
Riot Platforms missed Q2 analyst estimates, reporting revenue of $70.018 million and a loss of 32 cents per share. The stock's performance has impacted the broader Bitcoin mining sector.
Riot's earnings miss has negatively impacted investor sentiment in the Bitcoin mining sector, contributing to the volatility in MARA and CLSK stocks.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80
NEUTRAL IMPACT
Marathon Digital is set to report Q2 earnings with expected revenue of $157.84 million and a loss of 14 cents per share. The stock is down 5.44% ahead of the report.
The upcoming earnings report and the current stock price drop indicate investor caution. The actual earnings results will likely determine the short-term price direction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
CleanSpark is expected to report Q3 earnings with revenue of $110.881 million and a loss of 4 cents per share. The company announced new power contracts and a Bitcoin mining site acquisition. The stock is down 4.97%.
The new power contracts and mining site acquisition are positive developments that could boost investor confidence, despite the current stock price drop.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100